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(a) All taxes imposed and all money withheld or required to be withheld by employers under the provisions of this Chapter and remaining unpaid after they become due shall bear interest at the rate of one and one-half percent (1 1/2%) per month or fraction thereof and, effective for tax year 2007 and subsequent years one and one-half percent (1 1/2%) or fraction thereof, compounded monthly.
(b) In addition to interest as provided in subsection (a) hereof, penalties based on the unpaid tax are hereby imposed as follows:
(1) For failure to pay taxes due, other than taxes withheld: One and one-half percent (1 1/2 %) per month, or fraction of a month thereof, compounded monthly.
(2) Any person required to withhold the tax who fails to withhold such tax, or pay such tax or attempts in any manner to evade such tax or the payment thereof, shall be liable for the amount of tax withheld plus a penalty equal to one hundred percent (100%) of the amount due if the tax is not paid within thirty days from the date due. No other penalty under this section shall be applied to any offense to which this penalty is applied.
(3) For failure to remit taxes withheld from employees: Five percent (5%) per month, or fraction of a month thereof, compounded monthly.
(4) Any person who fails, neglects, or refuses to make any return or declaration required by this Chapter shall be subject to the levy and imposition of a twenty-five dollar ($25.00) late fee.
(c) Exceptions. A penalty shall not be assessed on an additional tax assessment made by the Tax Administrator when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Tax Administrator, and provided further, that, in the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a federal audit, providing an amended return is filed and the additional tax is paid within three (3) months after final determination of the federal tax liability.
(d) Either the Tax Administrator hereunder or the Board of Review may abate penalty or interest, or other fees, for good cause shown.
(Ord. 13-2007. Passed 1-25-07.)